Fastmarkets calculated its daily steel hot-rolled coil index, domestic, exw Northern Europe
, at €505.00 ($596.70) per tonne on Wednesday, up by €6.67 per tonne day on day from €498.33 per tonne on October 27.
The index was also up by €7.50 per tonne week on week and by €18.21 per tonne month on month.
Wednesday’s index was based on deals and “achievable prices” heard at €500-520 per tonne ex-works.
Official offers, in the meantime, have been heard at €520-550 per tonne ex-works, market sources said. The mills claimed that they were sold out until February-March shipment HRC, resulting in tight supply of the material.
One German mill, however, was reported to still be able to offer HRC for late-December delivery, and it was ready to trade at €510 per tonne ex-works.
“I think most buyers are waiting for approaches by EU mills to...